On Wednesday, Thailand’s SET Index closed the morning trading session at 1,622.89 points, showing an increase of 1.00 points or 0.06%, with a trading value of THB 45.95 billion.
Kasikorn Securities (KS) noted that the Thai stock market traded sideways in the morning session, with speculative activity focused on energy stocks—particularly those in the PTT group—driven by positive sentiment following news that a major international partner is considering investing in the refining business.
Additionally, heightened geopolitical tensions in the Middle East have led to a continued surge in oil prices, with Brent crude approaching $100 per barrel. This has provided upward momentum for the Thai bourse, given the significant market weight of the energy sector.
However, investors are closely monitoring key U.S. economic data scheduled for release this week, specifically the Producer Price Index (PPI) on September 10 and the Consumer Price Index (CPI) on September 11, to assess the direction of U.S. interest rates. The market currently assigns a 62-63% probability to the U.S. Federal Reserve raising interest rates at its meeting on September 15-16.
In the afternoon, the SET Index is expected to continue trading sideways, with a medium-term outlook of sideways to sideways-up movement, and a projected trading range of 1,620-1,630 points.
The five stocks with the highest trading value were as follows:
- PTT: trading value at THB 4.29 billion, closing at THB 42.50, up THB 0.25 or 0.59%
- TOP (XD): trading value at THB 2.91 billion, closing at THB 68.75, up THB 2.00 or 3.00%
- PTTEP: trading value at THB 2.68 billion, closing at THB 154.00, up THB 1.00 or 0.65%
- KBANK (XD): trading value at THB 1.83 billion, closing at THB 247.00, down THB 1.00 or 0.40%
- DELTA: trading value at THB 1.79 billion, closing at THB 275.00, unchanged
